[kypez]

Originally Posted by whynot

Lots of media reporting this morning that Apple is to shut down its division that is working on its electric vehicle. Apparently moving some of the team over to working on AI. And this is after it gave up on its full self driving project a few years back.



While sinking a few billion into a black hole EV project and then walking away with nothing might seem wasteful, but this is the way capitalism works. The successful survive and the weak perish.





It also says a lot about managerial confidence in being able to make a buck out of EV. Ditto, investor's confidence in EV when Apple's stock rose 0.7% immediately after the announcement.

Also shows how much of a Headstart Tesla has and how far ahead they continue to be. They build EVs with bigger margins than ICE manufacturers. They are priced very competitively against the rest of the market as well.

I always laughed when people rubbished them (on this forum) saying, "just wait till the other more established brands turn up and Tesla will be cactus". Yeah, it's not as easy as many thought to build an EV profitably.